The Lowdown on GM MasterCard

by : Eric Wasselman

GM MasterCard would probably be the perfect credit card to have if you are a fan of GM products. With the GM MasterCard, users are able to earn a 5% rebate when they purchase or lease a new SUV, truck or car from General Motors. Also, earnings are not limited to any annual sum. However, rebates that are not redeemed within seven years will expire.

Furthermore, GM MasterCard cardholders should also be aware of the redemption allowance that is permitted for the specific type of GM vehicle. The allowance is dependent on the year of the model, which differs between alternate GM vehicles. Indeed, it is also not uncommon to find redemption allowances to be raised during promotional periods.

Other benefits of the GM MasterCard include the exemption from any annual fees or registration fees, and also 0% introductory rate for balance transfers or purchases made charged to the card within the first twelve months.

Once the promotion period is over, annual percentage rates will vary with each individual in accordance to the applicant's credit history. Users with good credit histories are entitled for the lowest possible rates. However, the regular APR of the GM MasterCard is 12.74% for purchase charges and 23.15% for cash advances.

Nevertheless, a minimum cap is applied for credit card transactions regardless of the tie in with the Prime Rate. Also, fees are also payable for cash advances, balance transfers, surpassing the credit limit or for late payments. In return, the GM MasterCard provides its users with protection from unauthorized use of the card, replacements for emergency cash or card, automobile insurance, travel accident insurance of up to $1,000,000 and online access to manage all accounts pertaining to the card.